- The US dollar is about to end the week softly after the NFP.
- EUR / USD recovers 1.20 and above, the next resistance at 1.2050.
The EUR/USD it rose further during the US session and hit a new daily high at 1.2033. You keep most of your daily earnings, thanks to a weaker US dollar across the board.
NFP hits the dollar
EUR / USD received another boost to rebound from the low of 1.1950 after the NFP. Payrolls increased by 49,000 in January, disappointing expectations. Furthermore, the previous months were revised downwards. The unemployment rate dropped from 6.7% to 6.3%.
Wall Street stock prices are on the rise, with the Dow Jones rising 0.25% and the Nasdaq 0.18%. The DXY reversed sharply from monthly highs above 91.50 and fell towards 91.00, cutting weekly gains.
Despite rising on Friday, EUR / USD is about to end the week lower, posting the lowest close since November. The decline found support at the 20-week moving average and bounced higher. The movement from the weekly lows could suggest some consolidation before another lower leg or a recovery.
With only a few economic reports due next week, market sentiment will likely be the key as market participants will watch US yields, coronavirus data, and fiscal stimulus negotiations.
Technical levels
EUR/USD
Panorama | |
---|---|
Today’s Last Price | 1.2026 |
Today’s Daily Change | 0.0060 |
Today’s Daily Change% | 0.50 |
Today’s Daily Opening | 1.1966 |
Trends | |
---|---|
SMA of 20 Daily | 1.212 |
SMA of 50 Daily | 1.2151 |
SMA of 100 Daily | 1.1965 |
200 SMA Daily | 1.1697 |
Levels | |
---|---|
Daily Preview Maximum | 1.2043 |
Daily Previous Minimum | 1.1958 |
Weekly Preview Maximum | 1.2183 |
Weekly Prior Minimum | 1.2058 |
Monthly Previous Maximum | 1.235 |
Minimum Previous Monthly | 1.2054 |
Daily Fibonacci 38.2% | 1.199 |
Fibonacci Daily 61.8% | 1.201 |
Daily Pivot Point S1 | 1.1935 |
Daily Pivot Point S2 | 1.1904 |
Daily Pivot Point S3 | 1.1849 |
Daily Pivot Point R1 | 1.202 |
Daily Pivot Point R2 | 1.2074 |
Daily Pivot Point R3 | 1.2105 |
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